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Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) has successfully closed its initial public offering, offering 14,500,000 units priced at $10.00 each. This generated gross proceeds of $145,000,000 before accounting for underwriting discounts and offering expenses.
Trading under the ticker HAVAU commenced on Nasdaq on October 23, 2025. Each unit comprises one Class A ordinary share and one right to receive one-tenth of one Class A share. Upon separation, the underlying Class A shares and rights are anticipated to trade under the symbols HAVA and HAVAR, respectively. As a Cayman Islands-based blank check company, Harvard Ave Acquisition Corporation aims to identify and execute business combinations. D. Boral Capital served as the sole book-running manager for this offering.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) ha chiuso la sua offerta pubblica iniziale di 14,500,000 unità a $10,00 per unità, generando proventi lordi di $145,000,000 prima delle commissioni di sottoscrizione e delle spese di offerta.
Le unità hanno iniziato a essere negoziate su Nasdaq sotto HAVAU il 23 ottobre 2025. Ogni unità contiene una azione ordinaria di Classe A e un diritto a ricevere un decimo di un’azione di Classe A; le azioni ordinarie sottostanti e i diritti dovrebbero negoziarsi come HAVA e HAVAR una volta separati. La società è una blank check company delle Isole Cayman che cerca una o più combinazioni aziendali. D. Boral Capital ha agito come unico book-running manager.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) cerró su oferta pública inicial de 14.500.000 unidades a $10.00 por unidad, obteniendo ingresos brutos de $145,000,000 antes de comisiones de suscripción y gastos de oferta.
Las unidades empezaron a cotizar en Nasdaq bajo HAVAU el 23 de octubre de 2025. Cada unidad contiene una acción ordinaria de Clase A y un derecho para recibir una décima de una acción de Clase A; se espera que las acciones ordinarias subyacentes y los derechos coticen como HAVA y HAVAR cuando se separen. La empresa es una blank check company de las Islas Caimán que busca una o más combinaciones de negocio. D. Boral Capital actuó como asesor/gestor principal único.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU)가 14,500,000 유닛의 초기 공모를 유닛당 $10.00으로 마감하여 $145,000,000의 총모집금을 얻었습니다(배정 및 제안 비용 차감 전).
유닛은 HAVAU로 Nasdaq에서 2025년 10월 23일에 거래를 시작했습니다. 각 유닛은 Class A 보통주 1주와 Class A 주식의 1/10을 받을 권리 1개를 포함합니다; 기초 주식과 권리는 분리되면 HAVA와 HAVAR로 거래될 것으로 예상됩니다. 이 회사는 케이만 제도의 페이퍼(블랭크 체크) 회사로, 하나 이상의 기업결합을 모색합니다. D. Boral Capital은 단독 북런닝 매니저로 활동했습니다.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) a clôturé son offre publique initiale de 14 500 000 unités à $10,00 par unité, générant des recettes brutes de $145 000 000 avant les commissions de souscription et les frais d’offre.
Les unités ont commencé à être négociées sur Nasdaq sous HAVAU le 23 octobre 2025. Chaque unité contient une action ordinaire de Classe A et un droit de recevoir un dixième d’une action de Classe A; les actions sous-jacentes et les droits devraient être négociés comme HAVA et HAVAR lorsqu’ils sont séparés. La société est une blank check company des Iles Cayman qui cherche une ou plusieurs combinaisons d’affaires. D. Boral Capital a agi en tant que unique book-running manager.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) hat sein ursprüngliches Börsengeschäft von 14.500.000 Einheiten zu $10,00 pro Einheit abgeschlossen und Bruttoerlöse von $145.000.000 vor Zeichnungsrabatten und Angebotsposten erzielt.
Die Einheiten begannen am 23. Oktober 2025 an der Nasdaq unter HAVAU gehandelt zu werden. Jede Einheit enthält eine Class-A-Ordinary-Aktie und ein Recht, ein Zehntel einer Class-A-Aktie zu erhalten; die zugrunde liegenden Class-A-Aktien und Rechte sollen voraussichtlich als HAVA und HAVAR gehandelt werden, wenn sie getrennt werden. Das Unternehmen ist eine Cayman-Inseln-Blank-Check-Gesellschaft, die eine oder mehrere Geschäftskombinationen anstrebt. D. Boral Capital fungierte als alleiniger Book-Running-Manager.
Harvard Ave Acquisition Corporation (Nasdaq: HAVAU) أغلقت أول عرض عام لها لــ 14,500,000 وحدة بسعر $10.00 للوحدة، محققين عائدات إجمالية قدرها $145,000,000 قبل عمولات الاكتتاب وتكاليف العرض.
بدأت الوحدات بالتداول في ناسداك تحت الرمز HAVAU في 23 أكتوبر 2025. تحتوي كل وحدة على سهم عادي من الفئة أ وحق في الحصول على عُشر سهم من الفئة أ؛ ومن المتوقع أن يتم التداول بالأسهم العادية الأساسية والحقوق كـ HAVA و HAVAR عند فصلها. الشركة هي شركة فحص فارغ مقرها جزر كايمان تسعى لإتمام عملية دمج تجاري أو أكثر. عمل D. Boral Capital كمدير رئيسي وحيد للكتاب.
Positive
- Gross proceeds of $145,000,000 from IPO
- Units listed on Nasdaq under symbol HAVAU
- Each unit includes 1 share + 0.1 warrant-style right
Negative
- Company is a blank check vehicle with no identified target
- No assurance of completing a business combination or timeline
- Proceeds reported before underwriting discounts and expenses
Insights
Harvard Ave closed a $145 million SPAC IPO of 14,500,000 units; proceeds will fund a future business combination.
The Company sold 14,500,000 units at $10.00 per unit, generating gross proceeds of $145,000,000. The units began trading on Nasdaq under HAVAU on October 23, 2025, and the registration statement was declared effective on September 30, 2025. Each unit contains one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share.
The structure and proceeds confirm the Company operates as a blank check (SPAC) incorporated in the Cayman Islands and will seek a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. Key dependencies include the management team identifying and completing a qualifying business combination and the legal/regulatory conditions noted in the prospectus and Risk Factors. Watch for the separate listing of Class A shares and rights under the expected symbols HAVA and HAVAR, the timeline for filing any proxy or solicitation for a combination, and any disclosures in the registration statement and prospectus; these items will appear next in public filings and necessary shareholder materials.
10/24/2025 – 09:41 PM
New York, NY – Harvard Ave Acquisition Corporation (Nasdaq: HAVAU), a special purpose acquisition company (SPAC), announced the closing of its initial public offering (IPO) on Friday, netting $145 million in gross proceeds. The offering consisted of 14,500,000 units priced at $10.00 per unit, before deducting underwriting discounts and associated offering expenses.
The units commenced trading on the Nasdaq Global Market under the ticker symbol “HAVAU” on October 23, 2025. Each unit comprises one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share upon the unit’s separation. Upon separation, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the ticker symbols “HAVA” and “HAVAR,” respectively.
Harvard Ave Acquisition Corporation is structured as a blank check company, incorporated as an exempted entity under Cayman Islands law. The company’s stated intent is to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more private entities. While the SPAC remains sector-agnostic in its acquisition search, the management team has indicated a preference for industries that align with their existing expertise.
D. Boral Capital LLC served as the sole book-running manager for the IPO.
Legal representation for Harvard Ave Acquisition Corporation was provided by Robinson & Cole LLP, while Winston & Strawn LLP acted as legal counsel for D. Boral Capital LLC.
The offering was made via a prospectus; a registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) and declared effective on September 30, 2025.
SPAC Market Dynamics and Investor Considerations
The successful completion of Harvard Ave’s IPO occurs amidst evolving market dynamics for SPACs. While SPACs offer companies an alternative route to public markets, investors are increasingly scrutinizing the target selection and valuation metrics of these blank check companies. The performance of SPACs post-merger has been uneven, with some companies struggling to meet initial projections, highlighting the risks associated with investing in these vehicles.
Analysts at CNBC note that investors in HAVAU should pay close attention to the management team’s ability to identify and secure a suitable target, as well as the terms of the eventual business combination. Furthermore, given the current regulatory environment surrounding SPACs, increased due diligence is crucial.
Forward-Looking Statements
This announcement contains forward-looking statements subject to risks and uncertainties, including the ability to complete a business combination. The company disclaims any obligation to update these statements to reflect changes in expectations or circumstances. The offering discussed above may not be completed on the terms described or at all. These statements are subject to numerous conditions, many of which are beyond Harvard Ave’s control. Refer to the Risk Factors section of the registration statement filed with the SEC for further details.
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